Carson City Real Estate Update - December, 2007

Posted by Mitch Argon / CalNeva Realty on Monday, December 10th, 2007 at 8:09pm.

Carson City, NV Real Estate - Update for December, 2007

This post provides some narrative insights into the Carson City Nevada real estate market.  If you are interested in tracking the market, subscribe to  The Greater Reno-Tahoe Real Estate Report, a free, monthly e-report showing charts and graphs of key Carson City real estate market trends and statistics. Please note: this post contains information for homes sold in November, 2007 and inventory levels in December, 2007.

Carson City Median Home Price

The Carson City median home price for November, 2007 was $246,000.  This is down 9% from the Carson City median home price in November of 2006 and pretty darn close to the Dayton median home price in November of $240,000.  At $246,000, the Carson City median home price is on par with levels seen in the first half of 2004. 

Carson City Homes For Sale

There are approximately 407 homes for sale in Carson City in December, 2007.  Last December there were 396 homes listed - no major changes here. 

Carson City Homes Sold

There were only 26 Carson City homes sold in November, 2007.  This is down 26% from November, 2006. 

Carson City Real Estate - Buyer or Seller Market?

The Carson City real estate market currently has 11.7 months of inventory - up from 8.6 months of inventory one year ago - this represents a stronger buyer's market and with the depressed number of Carson City homes sold, it will take quite a while to work down the inventory levels.  One advantage a home seller has in Carson City is there are very few (and none are large scale) new home developments to compete with so this could come into line much faster than markets like Dayton, Sparks, or Fernley due to the new home construction in those markets.

Mitch Argon
Broker - CalNeva Realty

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